Manufacturing output grows 1.1% YoY in January 2024
The transport engineering sector recorded the highest output growth of 43.5% YoY.
Singapore’s manufacturing output grew 1.1% YoY in January 2024.
EDB Singapore attributed the increase to the output growth in various sectors, led by the transport engineering sector, which recorded a 43.5% YoY increase.
The marine and offshore engineering segment, which grew 27.6% YoY, drove the increase for the transport engineering sector.
Precision engineering also recorded output growth, increasing 27.7% YoY, with the machine & systems segment expanding 33.3% due to higher production of front-end semiconductor equipment and process control equipment.
The chemicals sector also grew 3.8% YoY due to specialities segment expansion.
On the other hand, electronics and general manufacturing recorded output declines of 3.4% YoY and 25.9% YoY, respectively.
In addition, biomedical manufacturing also declined 25.9% YoY.
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